MIKEY-EXPRESS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MIKEY-EXPRESS
Largest movements
- Tangible fixed assets -€19,616
down €19,616 (-37.4%), from €52,450 to €32,834
- Receivables within one year +€12,987
up €12,987 (+28.1%), from €46,243 to €59,229
of which Trade receivables: +€14,429
- Cash -€5,858
down €5,858 (-24.6%), from €23,769 to €17,910
mainly Contributions, distributions and other (-€15,000) and Receivables within one year (-€12,987)
- Reserves +€19,140
up €19,140 (+71.3%), from €26,860 to €46,000
- Profit (loss) carried forward -€12,417
down €12,417 (-98.1%), from €12,657 to €240
- Debts after one year -€11,268
no longer reported in 2025 (was €11,268)
- Current portion of long-term debt -€8,889
down €8,889 (-44.1%), from €20,157 to €11,268
- Trade debts +€4,377
up €4,377 (+158.7%), from €2,757 to €7,134
- Gross operating margin -€13,083
down €13,083 (-19.3%), from €67,687 to €54,604
- Depreciation -€5,710
down €5,710 (-22.5%), from €25,325 to €19,616
- Other operating charges -€1,502
down €1,502 (-35.5%), from €4,228 to €2,726
- Financial charges -€1,044
down €1,044 (-31.9%), from €3,271 to €2,227
- Taxes +€783
up €783 (+10.4%), from €7,531 to €8,314
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,021 | €112,804 | -€12,217 | -9.8% |
| Fixed assets | 21/28 | €52,585 | €32,969 | -€19,616 | -37.3% |
| Tangible fixed assets | 22/27 | €52,450 | €32,834 | -€19,616 | -37.4% |
| Land and buildings | 22 | €10,001 | €7,501 | -€2,500 | -25.0% |
| Plant, machinery and equipment | 23 | €5,767 | €4,350 | -€1,417 | -24.6% |
| Furniture and vehicles | 24 | €30,062 | €20,984 | -€9,078 | -30.2% |
| Leasing and similar rights | 25 | €6,620 | - | -€6,620 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €72,436 | €79,835 | +€7,399 | +10.2% |
| Amounts receivable within one year | 40/41 | €46,243 | €59,229 | +€12,987 | +28.1% |
| Trade receivables | 40 | €41,094 | €55,524 | +€14,429 | +35.1% |
| Other amounts receivable | 41 | €5,148 | €3,706 | -€1,443 | -28.0% |
| Cash at bank and in hand | 54/58 | €23,769 | €17,910 | -€5,858 | -24.6% |
| Deferred charges and accrued income | 490/1 | €2,425 | €2,695 | +€271 | +11.2% |
| Total equity and liabilities | 10/49 | €125,021 | €112,804 | -€12,217 | -9.8% |
| Equity | 10/15 | €49,517 | €56,240 | +€6,723 | +13.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €26,860 | €46,000 | +€19,140 | +71.3% |
| Distributable reserves | 133 | €26,860 | €46,000 | +€19,140 | +71.3% |
| Profit (loss) carried forward | 14 | €12,657 | €240 | -€12,417 | -98.1% |
| Amounts payable | 17/49 | €75,504 | €56,564 | -€18,940 | -25.1% |
| Amounts payable after more than one year | 17 | €11,268 | - | -€11,268 | |
| Financial debts | 170/4 | €11,268 | - | -€11,268 | |
| Amounts payable within one year | 42/48 | €64,236 | €56,564 | -€7,672 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €20,157 | €11,268 | -€8,889 | -44.1% |
| Financial debts | 43 | €3,333 | €3,333 | +€0 | 0.0% |
| Credit institutions | 430/8 | €3,333 | €3,333 | +€0 | 0.0% |
| Trade debts | 44 | €2,757 | €7,134 | +€4,377 | +158.7% |
| Suppliers | 440/4 | €2,757 | €7,134 | +€4,377 | +158.7% |
| Taxes, remuneration and social security | 45 | €7,988 | €7,638 | -€349 | -4.4% |
| Taxes | 450/3 | €7,988 | €7,638 | -€349 | -4.4% |
| Other amounts payable | 47/48 | €30,000 | €27,190 | -€2,810 | -9.4% |
| Non-recurring operating income | 76A | €35,000 | - | -€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,325 | €19,616 | -€5,710 | -22.5% |
| Other operating charges | 640/8 | €4,228 | €2,726 | -€1,502 | -35.5% |
| Gross operating margin | 9900 | €67,687 | €54,604 | -€13,083 | -19.3% |
| Operating profit (loss) | 9901 | €38,134 | €32,263 | -€5,871 | -15.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €3,271 | €2,227 | -€1,044 | -31.9% |
| Recurring financial charges | 65 | €3,271 | €2,227 | -€1,044 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €34,863 | €30,037 | -€4,826 | -13.8% |
| Income taxes | 67/77 | €7,531 | €8,314 | +€783 | +10.4% |
| Profit (loss) for the period | 9904 | €27,332 | €21,723 | -€5,609 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,332 | €21,723 | -€5,609 | -20.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.